New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-06-25
CLoszyG PRICES OF BOSTON STOCKS
boston. June %. 1897

FRIDAY. June Pap. m.
What threemonhs talk about the evil effects the
Interstate Commerce law and the danger OF Treasury
Subscriptions OF money had failed to effect actual
speculative locking mp OF money accompanied by a
demonstration OF sheer force prices, to-day has
accomplished An important break in values. ranging
from to 40 per cent. to-day was made in the stock
markets and yet there failures at either board
Neither was there any unusual excitement except during
a period OF less than hour before The impet-
uosty of the attack values which made at about
IL o'clock. and the wild which current that
had their origin In the rapid decline in prices unques
tionably frightened large number OF holders into
liquidation who entirely competent 10 protect their
interest But the rapidty OF the shrinkage induced
waiting OF reason on impulse and stocks thrown
overheard without regard 10 values. The panic
lasted less than hafhour but during that time it
sharp and demonstratye. After IT the market dull
with moderate fluctuations. BY the light of to-day's
transactions the past clearer 1t is evident
that what done to-day was planned TO be done
the day following the wheat panic in Chicago II then
was defeated by the presence OF the largo buying orders
from Europe, and since then favorable opportunity has
been waited for The approach OF gold imports and
Of the large Treasury July disbursements rendered
necessary that delay should lie permitted The trans
actions at both boards to-day aggregate shares
-667,01O shares at the Stock Exchange and 3s215S
shares at the Consolidated Exchange statement OF the
events and ofthe day in their chronological order
Exchange to estimate OF the character OF the
panic and the sources from which the attacks
emanated The market opened quiet and rather firm in
tone Immediately following the opening unusually
large transactions in Manhattan consolidated stock
attracted general attention. IL 20oshares sold at 1876
al56 So with two prominent brokers the principal
seller and buyer. Immediately every asking
What does It mean Is IL business ia 1t a wash
And the average mind well prepared to accept the
first suggestion OF solution that might be offered.
The next sales 400 at 1856 3s and 100 at l55 2
and then the stock quoted l50dl55. Missouri
Pacific before IL O'Clock traded in TO the extent OF
$500 shares at 1o5 l4d1O0 and then II began 10
break. selling 100 o. 100 at o. 100 OF 06, 100 at 49,
and 100 at o. Western Union. which had been dull for
nearly hour at about 75 started downward almost
Immediately after Missouri Pacific and rapidly declined
81 L. In the midst OF the declines the two last
named stocks a rumOr Of Mr.. GOuld's death became
current Before Missouri Pacific and Western Union
had reached their lowest figures. Manhattan cons0l-
dated lurehed with transactions as follows: 700 at
1873 L. 100 at $780, 200 at I4O IL, 900 1870, 300
125, 100 nj l23 900 at 100 and 100 at Is In the
meantime II had been positively announced that Mr.
Gould in his Office and In good health. aud before
Manhattan mad reached its lowest point the rmor fol
lowed that Mr.. Field was in financial difficulties and
that the conspicuous early transactions in the stock at
l56 IL reflected Mr.. Sage unloading Mr. FIELD
Money advanced 10 Ia per loans till Monday
about 80 per cent per The panic " soon
tended from the group Of stocks named to the whole list
and prices fell 10 the points given lowest" In our
General List before IL O'Clock After that steadler
yet still feycrish developed and prices
cred about one half the early declines After the close
every asking what the object OF the great raid
was and gentleman remarked that II was TO create
activity II reminded him Of the man who cut his boys
head of squnt In the boys eye. The markets
have stood another test and the results Of fail
ures at either board only additional evidence that
l..1I htr
marrow margins" The markets closed quiet but un-
settled.
Government bonds dull and irregular; the bids
for the of = and for tho LIS i higher.
Anne ned are the closing quotations: